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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: debra vogt who wrote (5667)	12/19/1997 12:39:00 AM
From: Thean	Read Replies (1) \| Respond to of 95453

Today's broad based decline is shallow in volume if anyone noticed. My long Stochastics is indicating signs of oversold almost across the board. The lower BB keeps getting lower but most are still not below the previous lows except for a number of small float land drillers like PTEN, UTI and BDI. For support tomorrow I would use the lower BB (tomorrow) for intraday. Lower BB for NE is about 27 and MDCO is about 18. Check IQC to find out more for any specific stock. Since tomorrow is a triple witching and since the Asian markets have already been cursed, I don't expect a pretty picture tomorrow morning. But tomorrow also happens to be the last active day before a lot of traders leave for holiday. That leaves the few thin volume days next week and after Christmas for "character-building" days - meaning we can get really thrashed by weak/distressed hands selling or unexpected rebound as the absence of big money selling prompts small educated investors (like us) to take up positions before New Year. Wait to be seen but technically we are almost riped for a rebound - I say downside risk is 10%. LT, NE may indeed get to 26. I may take a switch into NE and write some tax off if that happens.